European Stocks Advance as ECB Meeting Looms; Prudential Climbs
- Prudential leads insurers after reporting higher profit
- Investors see rate cut; stocks typically fall after meeting
Why An Easing ECB Is Not a Sure Thing for Markets
This article is for subscribers only.
European shares advanced for the first day in three as investors speculated on further stimulus from the European Central Bank when it meets tomorrow.
Prudential Plc led insurers higher with a 2.9 percent advance after reporting a jump in profit. Glencore Plc paced miners higher, while gains in oil helped energy shares rebound from their deepest selloff in two weeks. Burberry Group Plc fell 6.7 percent after people familiar with the matter said that HSBC Holdings Plc’s disclosure that it held 5 percent of the fashion retailer’s shares was part of a series of trades rather than a single bidder building a stake.